Australian shares are likely to open a tad higher on Wednesday as Saudi Arabia restored oil supply after attacks on facilities over the weekend, although investors remain cautious ahead of the US Federal Reserve's rate decision.

The local share price index futures rose 0.1pc, a 7.7-point premium to the underlying S&P/ASX 200 index close.

The benchmark rose 0.3pc on Tuesday.

New Zealand's benchmark S&P/NZX 50 index was flat in early trade.